Today’s News

Paula Deen Gets $75 Million Investment to Launch a Comeback

Embattled celebrity cook Paula Deen is set to launch a comeback, and she's got a $75 million investment to get her started.

Deen announced this week that she's starting a new company called Paula Deen Ventures to oversee her restaurants, cookbooks and other projects, The Associated Press reports. Phoenix-based private equity firm Najafi Companies is investing at least $75 million in the company. Steven Nanula, who has worked with Deen for two years, will serve as CEO, according to the AP.

Historically, Najafi Companies has invested in businesses including SkyMall and the Phoenix Suns NBA team. "We know that the enterprise will be successful and valuable, as Paula and her team continue to bring quality products and experiences to her loyal fan base," the company said in a statement, according to the AP.